Tyler Technologies (NYSE:TYL) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Tyler Technologies (NYSE:TYL) in a research note released on Tuesday, Marketbeat Ratings reports. The firm issued a neutral rating and a $600.00 price target on the technology company’s stock.

A number of other analysts have also weighed in on TYL. Wall Street Zen lowered Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. DA Davidson reduced their target price on Tyler Technologies from $595.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. The Goldman Sachs Group raised their price target on Tyler Technologies from $660.00 to $728.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Robert W. Baird decreased their price objective on Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company decreased their price objective on Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Tyler Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $680.50.

Tyler Technologies Stock Performance

TYL stock opened at $574.47 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business’s fifty day simple moving average is $561.06 and its two-hundred day simple moving average is $586.32. Tyler Technologies has a twelve month low of $458.50 and a twelve month high of $661.31. The firm has a market cap of $24.77 billion, a price-to-earnings ratio of 94.80, a PEG ratio of 4.93 and a beta of 0.88.

Tyler Technologies (NYSE:TYL) last released its earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.22. Tyler Technologies had a return on equity of 10.15% and a net margin of 12.30%. The business had revenue of $562.43 million for the quarter, compared to analyst estimates of $556.45 million. During the same quarter last year, the firm posted $2.20 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts predict that Tyler Technologies will post 8.52 earnings per share for the current year.

Insider Buying and Selling at Tyler Technologies

In other Tyler Technologies news, Director Daniel M. Pope sold 365 shares of Tyler Technologies stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $550.00, for a total value of $200,750.00. Following the transaction, the director now owns 2,853 shares in the company, valued at $1,569,150. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John S. Marr, Jr. sold 6,000 shares of Tyler Technologies stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $619.00, for a total value of $3,714,000.00. Following the completion of the transaction, the insider now owns 6,983 shares in the company, valued at $4,322,477. This trade represents a 46.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,231 shares of company stock worth $12,897,738 over the last quarter. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Tyler Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Tyler Technologies by 2.8% during the first quarter. Vanguard Group Inc. now owns 5,459,163 shares of the technology company’s stock worth $3,173,903,000 after acquiring an additional 148,762 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tyler Technologies by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,136,734 shares of the technology company’s stock worth $654,406,000 after acquiring an additional 27,826 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Tyler Technologies by 6.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 998,927 shares of the technology company’s stock worth $580,766,000 after acquiring an additional 59,554 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Tyler Technologies by 7.9% during the fourth quarter. Franklin Resources Inc. now owns 984,615 shares of the technology company’s stock worth $567,768,000 after acquiring an additional 71,869 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Tyler Technologies during the fourth quarter worth about $528,465,000. Hedge funds and other institutional investors own 93.30% of the company’s stock.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.